Vero Beach Subsidized Contracts

[PolyRob]

I love it when someone helps me rationalize a decision I probably should not make! LOL. It is a fair point, and, as you know, I'm fully into the DGC game.

Exactly! I can pretty much justify anything with Disney.

I will throw the ball back and say you can get the same DGC discount on any dues, it doesnt have to be the high ones.

Very true, but the price of entry for VB is so low that it's pretty much half the price of any other resort on the market. And when purchasing resale, that total can't be discounted or subsidized as much by CC bonuses or 0% APR. A 150 points VB contract could be charged on a CC with Mason plus the dues I only say this if @airjay75 really, really wants the home resort advantage.

 

[PolyRob]

@airjay75 there was a poster on the DIS that was very active around the time of the VGF fire sale. She purchased VB as SAP. There were lots of opinions, but she was happy with her purchase. This was ultimately her logic. Not sure if this helps or hurts. https://www.disboards.com/threads/r...uctions-formatting-tool.3923215/post-64991645

 

[VGCgroupie]

Exactly! I can pretty much justify anything with Disney.

Very true, but the price of entry for VB is so low that it's pretty much half the price of any other resort on the market. And when purchasing resale, that total can't be discounted or subsidized as much by CC bonuses or 0% APR. A 150 points VB contract could be charged on a CC with Mason plus the dues I only say this if @airjay75 really, really wants the home resort advantage.

#notsold

 

[PolyRob]

#notsold

Imagi, Imagi, Imagination!​

 

[airjay75]

Very true, but the price of entry for VB is so low that it's pretty much half the price of any other resort on the market. And when purchasing resale, that total can't be discounted or subsidized as much by CC bonuses or 0% APR. A 150 points VB contract could be charged on a CC with Mason plus the dues I only say this if @airjay75 really, really wants the home resort advantage.

I do sometimes look at these VB resale contracts, think about how low the cost will be based on whatever price/point I think might be doable and, then I calculate reimbursing buyer for current year dues and I'm always like, wow, those dues are a lot.

 

[VGCgroupie]

View attachment 1063384

Imagi, Imagi, Imagination!​

Well when you put it like that.

 

[mkatsy]

https://www.indian-river.realforeclose.com/index.cfm?ZACTION=HOME&ZMETHOD=FORECLOSE never know what you might find here.

 

[Cfabar1]

https://www.indian-river.realforeclose.com/index.cfm?ZACTION=HOME&ZMETHOD=FORECLOSE never know what you might find here.

Searching through this there are a number of them…. Reading through the order you’d need to figure out what those interest percentages equal in points…

 

[Cfabar1]

Makes me think there’s probably a similar way to make this work in Hilton Head.

 

[airjay75]

Would you also have to possible pay any dues owned in arrears to Disney on those contracts before you could use the points?

 

[Cfabar1]

Would you also have to possible pay any dues owned in arrears to Disney on those contracts before you could use the points?

I don’t know the answer… That is something you might want to call DVD about or ask an attorney…

EDIT: Keep in mind all calls to DVD are recorded for Quality Assurance. Meaning, whatever answer they give you will be preserved - even if the answer is I don’t know.

 

[byurick]

I swear this isn't a snarky question I am genuinely curious: Are the beach cottages there really worth all this? I have not visited VB but if I'm looking at it based solely on the cost of the contracts it tells me the answer is no.

 

[mkatsy]

Yes, you have to pay any dues that are owed since the default. The judgement only clears what is listed on it. You can find the original contract in the court case. The file number is on the auction listing. The plaintiffs (Disney) maximum bid is listed, it works out to ~ $35 a point. However, you would need to add on those additional dues … BUT … if you can find a subsidized contract in default that’s the gold, because the long term dues savings negate the extra cost. The subsidy is attached to the contract and transfer to the new owner.

Edited to add: to find the additional dues open the court case and read the “complaint”. It will tell you the exact date of the dues in default. Just do the math, you know which years after that are missing, you know the number of points and you can google what the dues were each year.

 

[airjay75]

I swear this isn't a snarky question I am genuinely curious: Are the beach cottages there really worth all this? I have not visited VB but if I'm looking at it based solely on the cost of the contracts it tells me the answer is no.

I mean, how much would you pay for a 2,100 square foot, 3 BR ocean front beach rental for a week on most beaches? Probably anywhere from $5k-$20k depending on the beach and time of year. And, these would not just be a standalone beach rental - they're located at a resort with resort amenities right outside your door. So, although I don't think they're cheap, I also don't think they're particularly expensive either.

 

[byurick]

I mean, how much would you pay for a 2,100 square foot, 3 BR ocean front beach rental for a week on most beaches? Probably anywhere from $5k-$20k depending on the beach and time of year. And, these would not just be a standalone beach rental - they're located at a resort with resort amenities right outside your door. So, although I don't think they're cheap, I also don't think they're particularly expensive either.

When you frame it in those terms it makes much more sense, thanks.

 

[cruisehopeful]

What season are you planning on using the cottage? I'm concerned that you would have a very different experience if your family were eaten up by the noseeums on vacation. I know you didn't have an idea on your past stay.

I still haven't been to the Vero Beach resort, but it looks amazing to me. I grew up in a beach town and it's a whole different experience being beach front vs. across the street from the beach. I do see the appeal of wanting to make it a vacation home. I hope you are able to collect all the information you need to make a decision.

 

[mkatsy]

Makes me think there’s probably a similar way to make this work in Hilton Head.

I may go take a look at that

 

[DonkeyHoTay]

if I want some more points to stay at VB, I should just start throwing out some $80/point offers on SSR. SAP points for VB.

I think that's the best strategy for staying at VB. Owning there with the dues factor is just too much, especially when you can always find something/anything there within 7 months. Exception being the 3 bdrm cottage because there are so few of them.

Are the beach cottages there really worth all this? I have not visited VB but if I'm looking at it based solely on the cost of the contracts it tells me the answer is no.

The beach cottages are extraordinary and I book them anytime I see it available for two nights in a row. My view of how to value VB is unrelated to the cost of the contracts - the point cost for room types is ultra low and the resort offers a unique coastal amenity unrelated to theme parks so the pace of the resort experience is extremely chill, which is the opposite of WDW DVC resorts (can't speak to VDH or VGC, but I assume it's similar to WDW resorts). But, I don't own points at VB and I never will.

I mean, how much would you pay for a 2,100 square foot, 3 BR ocean front beach rental for a week on most beaches? Probably anywhere from $5k-$20k depending on the beach and time of year. And, these would not just be a standalone beach rental - they're located at a resort with resort amenities right outside your door. So, although I don't think they're cheap, I also don't think they're particularly expensive either.

I live 90 minutes from VB and am there 4-6 times a year for random weekend getaways to visit family. It's worth it every trip and I say that even though I've lived 15 minutes from the beach for the last 40 years.

 

[airjay75]

What season are you planning on using the cottage? I'm concerned that you would have a very different experience if your family were eaten up by the noseeums on vacation. I know you didn't have an idea on your past stay.

I still haven't been to the Vero Beach resort, but it looks amazing to me. I grew up in a beach town and it's a whole different experience being beach front vs. across the street from the beach. I do see the appeal of wanting to make it a vacation home. I hope you are able to collect all the information you need to make a decision.

Thanks. That is a very good thought and I have thought about it a bit. I actually think the times we might be most likely to book would be some or all of Thanksgiving week, Christmas break, and Easter week (our spring break). I wouldn’t rule out trying the summer which seems to be when noseeums are the worst, but those other dates seem to be better for the noseeums.

And, of course, I’m sure those weeks are some of the most difficult to secure the beach cottages. That said, we may be perfectly happy with 1-2 BRs too, in which case buying VB points makes no sense.

Decisions, decisions.

 

[airjay75]

I live 90 minutes from VB and am there 4-6 times a year for random weekend getaways to visit family. It's worth it every trip and I say that even though I've lived 15 minutes from the beach for the last 40 years.

You are doing a good job tempting me! Haha.